me and my fiance are in the first stages of buying our first home...im dying here, i have terrible credit and its all because of ID theft, i cant report it cause its a family member.
ive come to the realization that its gonna have to be my load to bare, but how?
i want it fixed fast and easy...how can i do this? all the companies that say they do it for you sound like scams....HELP!
2007-06-28 08:52:57 · 14 answers · asked by at witts end! 1 in Business & Finance ➔ Credit
Sorry, but there is no fast and easy way to repair credit. You should have reported the ID theft - after all, they were the thief, not you, but you are choosing to pay for it.......it is possible to get a home if your credit isn't TOO bad, and you have a co-signer, but it's going to be hard. The only way to repair credit is to pay all your bills on time...and that takes time.
2007-06-28 08:57:25 · answer #1 · answered by Blue Oyster Kel 7 · 1⤊ 0⤋
1. Report it. Even it is your family member because you wouldn't be doing this person any good to covered the wrong doing. If it OK to do to you then it might OK to do again to someone else. Unless this person will give you your money back to clear out your credit. If you report it unless maybe it will help you to not have anything against you too bad there.
2. Do you believe that everything happened for a reason. Maybe you should put this home you are going buy off for some reason. Again, why would you get in to the other dept when you still couldn't clear this one out. In the end, you might lost the house to the bank, and stuck with a couple more big mess to clear your credit with.
3. I think it would be the best for you if you will work one problem at the time. By working on clear your credit out, and then start fresh when you ready for it. Plan and budget your income and your spending.
4. Stay away from this family member.
2007-06-28 16:11:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Theres no way to repair your credit fast, since youre in a position where u cant report anything only thing u can do is try getting a secured credit card ie, give the bank 1000 they give u a card with that much of a limit and create a payment history on it, this will take a while probably a year or 2 but it should help bring ur credit up if youre good on your payments and i mean if u use 200 pay it in full every month etc.
2007-06-28 16:08:18 · answer #3 · answered by Heaven L 4 · 0⤊ 0⤋
Any company that tells you they can fix your credit fast and easy is a scam. They are in if for ID theft or just taking your money. Some will have you do illegal things such as get loans under a different SSN.
Here is an article with some information
http://www.bankrate.com/brm/news/debt/20060113a1.asp
In fact, here is a site with a bunch of personal finance articles. Spend your free time going over them or search and find articles that suit your needs.
http://www.bankrate.com/brm/news/Archive.html
Next up, I would say sorry about the ID theft, however, if you do not report it then you have decided to take the full responsibility for it. That ID theft can haunt you for years. If you do not take action now, you will probably regret it later on.
As for getting a house, you may want to postpone it until you can legally get your credit going a bit better. Also, save up a decent down payment. Many people who were in the same boat as you who decided that they had to be homeowners no matter what are now renters with a foreclosure in their credit history. Your goal is to not be one of those people.
2007-06-28 16:03:00 · answer #4 · answered by A.Mercer 7 · 0⤊ 0⤋
Why does a family member get special treatment, clearly they were not thinking of you when they stole your ID. I'd report it and burn them - they made their decision now they have to live with it, not you.
If you are still unwilling to report the ID theft then you'd better start paying off the debts your family member incurred and hope they don't incur more. There is no faster/ easier way to fix this. If you can't pay the debts you can declare bankruptcy - this will "fix" the problem but it will take 7 years for all this to pass off your credit.
2007-06-28 16:01:50 · answer #5 · answered by Slumlord 7 · 0⤊ 0⤋
Unfortunately, if you plan on bearing the load, there is no fast and easy to get around this. The only fast and easy (and really it's not easy either) is to report yourself sd a victim of identiy theft to the police department in your community. Stealing another's identity is unexcusable whether it be a stranger or a family member. If you let them get away with this, what is it going to be next? They already trashed your credit, who's credit will they trash next? The only way to clean up this mess, is report it and then contact the credit bureaus on the items involved.
Don't let yourself be a victim any more! If you don't report it, then you are just victimizing yourself.
2007-06-28 16:11:51 · answer #6 · answered by Anonymous · 0⤊ 0⤋
First, make sure all the information on your credit report is accurate.
Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly.
Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.
Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.
Repairing your credit and improving your credit score is a slow process that takes time.
No credit repair company can do anything you can't do for yourself. It is impossible for a third party to make changes in your file if the facts have been correctly reported.
2007-06-29 00:22:44 · answer #7 · answered by Anonymous · 0⤊ 0⤋
What if there was one that would help you for free-would that sound like a scam? I know a loan officer who sometimes pays the fee to have a borrower's credit repaired so they can get the loan. Fill out the free evaluation form at the source website and a loan officer will contact you Monday.
2007-06-30 10:10:58 · answer #8 · answered by stephen l 2 · 0⤊ 0⤋
If you were truly at your wit's end as your screen name suggests, you would do what you know needs to be done. If you want to be a martyr for a family member who obviously doesn't regard you very highly then fine, btu you are putting your fiance and your future family in financial jeopardy before you even start out.
You know what you need to do, either do it or live with the consequences.
2007-06-28 16:03:05 · answer #9 · answered by Jamie G 2 · 0⤊ 0⤋
You may want to check your bank or something.
I agree...some of those things on Google or advertisements could be false people and scams.
NEVER go to a website and enter your credit card numbers without KNOWING FOR SURE it's 100% safe.
Good luck with you and your fiance!!!
2007-06-28 15:56:49 · answer #10 · answered by -----> over here 3 · 0⤊ 0⤋